Fitch affirms Vietnam BIDV

Fitch Ratings said it affirmed Bank for Investment and Development of Vietnam's individual rating at D/E and support rating at 4.

BIDV's individual rating reflects its limited balance-sheet strength, concentration risks on sector loans and single-name deposits, and the challenging and volatile environment it operates in, the agency said.

It also factors in improved underlying profitability, good disclosure and the bank's solid franchise, the agency noted.

"We consider BIDV to be one of Vietnam's more advanced banks in terms of commercial orientation and risk management. Its Individual Rating has upward potential if the bank continues to strengthen these areas alongside materially stronger capitalization," Sabine Bauer, a director at Fitch, said in a statement.

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